We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
The BOD of Cineworld have re-iterated their position such is the confidence in the legal response.
They will have had a swarm of corporate lawyers advising them and if they can re-iterate with such confidence that Cineplex breached their terms, then I will take confidence from a legal RNS confirming that position.
Cineplex have to refinance this month - this doesn't bode well for them and I suspect they will default on their creditors.
Last time when we got this RNS, CINEWORLD SP increased..
Morning. Yeah maybe a tree shake but let’s see.
FTSE 100 set for rip-roaring start mirroring Asia's strong performance
Morning JBS, sounds encouraging. Pretty swift and strong rebuttal, citing the covenant breaches and their opportunity to remedy them.
Just seen, red light isn't on. Better get to it and start recovering those costs when Plex lose. Then take it over on the cheap
Simple!
Cineworld confirms that Cineplex has initiated proceedings against Cineworld in relation to Cineworld's termination on 12 June 2020 of the Arrangement Agreement relating to its proposed acquisition of Cineplex (the "Acquisition"). The proceedings allege that Cineworld breached its obligations under the Arrangement Agreement and/or duty of good faith and honest contractual performance and claim damages of up to C$2.18 billion less the value of Cineplex shares retained by Cineplex shareholders. As previously announced, Cineworld did not breach these (or any) obligations or duties and will vigorously defend this claim. In any event, Cineworld believes that Cineplex's claim, if successful, would be limited to its costs and expenses incurred in relation to the Acquisition and would not be assessed by reference to the consideration that was payable under the Acquisition.
Cineworld terminated the Arrangement Agreement because Cineplex breached a number of its covenants under the Arrangement Agreement. Cineplex did not remedy these breaches when given the opportunity to do so. Cineworld is entitled to recover from Cineplex all damages and losses that it has suffered as a result of Cineplex's breaches and the Acquisition not proceeding, including its financing costs, advisory fees and other costs incurred. Cineworld intends to counter-claim against Cineplex for these damages and losses.
Cineworld Group plc - Legal proceedings commenced by Cineplex Inc.